Legal Question in Securities Law in Illinois

Investment / Securities

If I invested money for a friend, and lost all the money, can that person sue me for the amount of the origional investment? The account was in my name and I did what was asked but adverse market conditions resulted in the loss of the money.


Asked on 3/01/09, 5:37 pm

1 Answer from Attorneys
Adam S. Tracy Securities Compliance Group Ltd

Re: Investment / Securities

Thank you for your question. Yes, that person could bring an action against you. Most likely, he could allege negligence, breach of contract and maybe even fraud - depending on the particular circumstances.

You may also have issues surrounding your status - are you a licensed securities representative?

Feel free to email me with any follow-up questions: [email protected]

Thanks -

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Answered on 3/01/09, 9:16 pm


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